China Auto Daily丨 Geely Galaxy Starship 7 EM-i Pre-Sales Begin

CPCA: China Sold 2.28 Million Passenger Cars, Penetration Rate of NEVs Surpassing 50% for the Fourth Consecutive Month

The China Passenger Car Association (CPCA) recently reported that a total of 2.28 million passenger vehicles were sold this October, representing an 11.2% year-on-year increase. Specifically, the narrow-scope passenger car market accounted for 2.26 million units, which also saw an 11.3% growth compared to last October. Notably, the penetration rate for new energy vehicles (NEVs) in October reached 52.9% in China, maintaining a streak of over 50% for the fourth consecutive month. Tesla, a significant player in the Chinese market, exported 27,795 vehicles during October 2024.

CPCA's Cui Dongshu: The car market in October showed a high-speed growth trend, with the "Silver September and Golden October" effect being significant.

On November 9th, CPCA’s Secretary-General Cui Dongshu highlighted several notable trends for October’s passenger vehicle market:

1. Record-High Metrics: Retail, wholesale, production, and export numbers reached historic highs for the month. Export activities, in particular, played a crucial role in attaining the highest wholesale figures ever recorded in the database.

2. NEV Boom: NEV retail sales grew by 7% month-on-month compared to September and continued to break records, demonstrating an explosive market response to national policy of scrapping and updating as well as the "dual new" policy of trading in old for new, and the domestic retail penetration rate of NEVs has broken through 50% for four consecutive months;

3. Stabilized Price War: The frequency of price reductions and promotions significantly decreased between July and October, compared to earlier months.

4. Continued NEV Export Growth: Despite a slight deceleration from the first ten months’ average growth rate of 28%, October saw a 10% year-on-year increase and a substantial 14% month-on-month uptick in NEV exports.

5. Robust Wholesale and Retail Dynamics: Wholesale and retail trends remained strong, with manufacturer inventories generally declining, indicating a stable circulation ecosystem.

6. Segmented Market Gains: Both high-end and low-end market segments exhibited solid growth. The national scrapping renewal incentives boosted the economic EV segment, while local trade-in subsidies spurred growth in the mid-to-upper-tier segments.

7. Top-Selling Models: An impressive array of 28 models surpassed the 20,000 unit mark in wholesale sales, up from 23 models the previous month.

China Released High-Performance Automotive-grade MCUs

Wuhan Economic Development Zone announced the release of a high-performance automotive-grade MCU chip, DF30, during the Hubei Province Automotive-grade Chip Industry Technology Innovation Consortium Annual Conference on November 9th. Led by Dongfeng Motor Corporation, the consortium unveiled released the high-performance automotive-grade MCU chip - DF30, filling a domestic gap. It is reported that the DF30 chip is based on the independent open-source RISC-V multi-core architecture, developed with domestic 40nm automotive process technology, with a fully domestic closed loop process. Passing 295 rigorous tests, the DF30 achieved ASIL-D functional safety standards.

Geely Galaxy Starship 7 EM-i Pre-Sales Begin

Geely has opened pre-sales for its next-generation plug-in hybrid SUV, the Galaxy Starship 7 EM-i. The vehicle is available in five variants: 120km Navigator, 120km Explorer+, 120km Pioneer+, 55km Explorer, and 55km Pioneer, with initial pricing ranging from 109,800 to 142,800 yuan (approximately $15,200 to $19,800). Featuring the new Thor EM-i Super Hybrid system, the vehicle boasts a maximum power output of 82 kW, a maximum torque of 136 N·m, along with an electric motor rated at 160 kW and a maximum torque of 262 Nm. The Galaxy Starship 7 EM-i accelerates from 0 to 100 km/h in just 7.5 seconds with a top speed of 180 km/h.